On October 5, 2026, Plume Network launched the nFBND vault, a protocol issuing programmable receipt tokens backed by shares of the Fidelity Total Bond ETF (FBND). The vault operates through Nest, Plume’s asset-management protocol, with each nFBND token representing an onchain claim on FBND shares held off-chain. FBND managed approximately $26.6 billion as of June 30, 2026, with estimates near $28 billion after the vault launch, carrying a 0.36% expense ratio. Early vault adoption remained modest, with some reports indicating holdings under $100 shortly after launch. Plume holds SEC registration and Bermuda licensing, and plans to bring more Fidelity assets onchain to serve the active bond investment market.
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